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Editorials and Opinions

Aid seniors with financial aid

By Denebola
Published: September 2008

Last week, we watched as the US national debt nearly doubled, a 158 year old Wall Street firm declared the largest bankruptcy in history, Bank of America swallowed Merill Lynch, and the market had its worst day since 2001. Scarier than anything, for the first time since the Great Depression, turmoil in the financial markets is causing turmoil in the economy’ÔéČnot the other way around.

It might have been easy for us to ignore the financial calamities over the past few days, but rest assured we will all experience the reverberations of Wall Street’s disaster scenario very soon, and no one sooner than seniors applying to college.

Credit markets are tight and tightening, which means it’s going to be harder and harder to take out loans. Add that to the fact that college tuition is steadily rising, and you have a large group of high school seniors who will still be paying off tens of thousands of dollars of relatively high-interest loans in 2030.

Now more than ever, the guidance and college counseling departments at Newton South need to emphasize financial aid and scholarship opportunities to seniors beginning the college process.

The FAFSA loan process is absurdly complex, and providing help and support in this and other financial areas will be paramount for South guidance counselors and teachers this fall.

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